Amy Davis is a new resident of West Town Lofts, a modern new building west of downtown near Sylvan Park and the Nations. / Photos by John Partipilo / The Tennessean

Written by

Bill Lewis

For The Tennessean

Davis' apartment features 10-foot ceilings and walk-in closets.

Davis, left, watches roommate Rachel Cannon hang pictures in the kitchen at West Town Lofts.

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Amy Davis is one of the newest residents of Historic West Town, a neighborhood in Nashville’s urban core where homebuilders are constructing houses as fast as they can.

But Davis didn’t buy a house. She rented one of the first apartments built in the neighborhood in years.

“I’m two seconds from Sylvan Park in an emerging neighborhood that is trying to make a change,” Davis said.

For years, young professionals like Davis and families moving to the Nashville region have created a red-hot real estate market by purchasing homes in neighborhoods from Green Hills to Historic West Town and East Nashville to booming suburbs like Mt. Juliet.

Now, developers in those neighborhoods see a new trend. Growing numbers of people moving to the region aren’t interested in owning a home, at least not right away. They see apartment living as an affordable and convenient alternative with a fringe benefit. When the lease expires, they can easily move across town or across the country, wherever their career or imagination takes them.

“I had good timing. Nashville is hot for apartments,” said Ward Pace, the developer who built West Town Lofts, the apartment building where Davis lives. The building at 5106 Delaware Ave. is on a site previously zoned for a warehouse.

“I always thought that was a neat spot for apartments, knowing that neighborhood would change,” Pace said.

Davis’ neighbors include graduate students, an attorney, an insurance broker and other “young urban professionals” attracted by the central location and luxury amenities including 10-foot ceilings and walk-in closets. All 16 apartments were leased within five weeks after the building opened this fall, he said.

Davis, who moved to Nashville two years ago after graduating from college, said she was glad to find a new apartment in the heart of the city.

“I thought Nashville sounded like fun, and it is,” she said.

Bustle expands

In Mt. Juliet, east of the city, apartment developer Lifestyle Communities is banking on the idea that many young professionals and older downsizers would prefer to live in the suburbs.

The company is preparing to build a master-planned community of 451 energy-efficient apartments on a 28-acre site near Interstate 40 complete with shopping, a fitness club and a full-service restaurant.

Many residents will be “renters by choice” who could afford to buy a home but prefer the freedom of apartment living, said Russell Boiarsky, the company’s director of marketing.

“We live in an instant-gratification economy where there is more transition than ever before,” he said. “Young professionals are switching jobs and locations more frequently than ever as they strive for their ideal career, which makes renting an attractive option.”

Others are choosing to rent until they feel more comfortable about the stability of the housing market and the economy, Boiarsky said.

“Finally, the experience of living in an LC community creates an additional draw for renters as it is difficult to replicate the social atmosphere and interaction.”

Rising aspirations

In Nashville’s Green Hills neighborhood, Southern Land Co. is proposing something new — the neighborhood’s first high-rise apartment building. The 22-story building near The Mall at Green Hills will include 24,000 square feet of office space, a 6,000-square-foot restaurant and 300 luxury apartments.

“You get the luxury and the views of a high-rise,” said Southern Land Vice President Michael McNally.

Demand is strong, he said, because Green Hills has not seen the development of new apartments for about 20 years.

In Cool Springs, Southern Land expanded its Dwell at McEwen apartment community after experiencing high demand. When the first Dwell units were built in 2007, they were the first new apartments in that area in 10 years.

Developer Tony Giarratana, who has plans for apartments in the SoBro and Midtown areas of Nashville, also sees “pent-up demand” for apartment living.

Giarratana is planning a 32-story apartment tower near Nashville’s new convention center. The building, named SoBro, will have more than 300 apartments, as well as space for restaurants and retailers. It would be one of Nashville’s tallest buildings.